Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Business Stats > Test #1 > Flashcards

Test #1 Flashcards

1
Q

State an example of Data?

A

GPA, average grades, miles per gallon

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

State an example of a Variable?

A

People, memory on a computer

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Assume we are studying numerical grades of 50 students on 3 exams in this BUSA 3131 class. Each student would be a subject of our study. Each grade would be an example of

A

A. measurement of a variable
B. an observed value of a variable
C. both a and b above

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

When we conduct research to see how students perform on a specific examination we are interested in how many students are included in the study. What symbol would be used to represent the number of students included in the study?

A

n

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

If we wanted to know how many people are licensed to operate an automobile by the State of Georgia as of July 1, 2013, we could access the Georgia Department of Motor Vehicles data base. Would the entire data set for all licenses operators in Georgia as of July 1, 2013 be an example of a population or would it be a sample?

A

Population, because it is all the drivers in Georgia

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

We are studying profitability of a chain of 200 fast food restaurants. One way to analyze the profitability would be to compare results over a period of five or six years. If we examined profitability as of 12.31.2008,12.31.2009, 12.31.2010, 12.31.2011, and 12.31.2012, would this be an example of time series analysis or would it be an example of cross sectional analysis?

A

Time series analysis

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Suppose you are still the owner of one or the 200 restaurants identified in the previous question. Further suppose that you have access to data that shows the average profitability of all 200 restaurants in the chain. If you compared the profitability of your restaurant to the average of all restaurants, would a statistician call such a comparison a time-series analysis or a cross-sectional analysis

A

Cross-sectional analysis

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

If you study customer opinions would that be an example of quantitative or qualitative data?

A

Qualitative data

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

If you study average monthly sales revenue for a restaurant, would that be an example of a quantitative or qualitative data?

A

Quantitative Data

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Measurement scales can use values that are nominal, ordinal, interval, or ratio. If you compare the miles per gallon of gasoline consumed by a 2013 Toyota Scion versus a 2013 Hyundai Elantra, which of these scales would you be using?

A

Ratio

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Statisticians collect discrete numeric values and continuous variables. If you are researching the eye color of 100 students, would that data you collect be an example of a discrete or a continuous variable?

A

Discrete

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

If the university registrar has access to the grade point averages for all students in the university, would the file containing that information be an example of a population or would it be an example of a sample

A

Population

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

The federal government conducts a basic surgery of all US citizens every ten years to gain data that will help in planning many activities performed around the country. Since this effort is intended to reach every residence in the USA it is an example of a?

A

Census

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

The mean value of a sample taken from some population is represented by which of the following

A

x-bar

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

True or False: A continuous random variable is any measurable characteristic of some subject of interest

A

True

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

True or False: The probability of any given value of a continuous random variable will be between 0 and 1.0

A

True

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

True or False: Given a random sample of a large number of observations for a particular continuous random variable, it is possible to estimate the mean value of the variable

A

True

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

True or False: Random variables with a limited number of possible outcomes are referred to as continuous random variables

A

True

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

True or False: Random variables that can be observed to have any value are referred to as continuous random variables

A

True

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

True or False: Rolling a fair die can produce only the following outcomes: 1,2,3,4,5,or 6 dots

A

True

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

True or False: If the probability of each of the outcomes of a discrete random variable is exactly the same, the probabiltiy density function of the outcome value, x, is said to be “Uniform”

A

True

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

For most continuous random variables, the probabilities of different values will tend to have some central tendencies as a sample grows in size. _______ samples tend to have some consistency

A

Large

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

One measure of central tendency is the average value of the variable which is called the ______ and the symbol________ is used to represent this central tendency for samples.

A

Mean; x-bar

24
Q

Two other measures of central tendency for continuous random variables are the ________ and the ________

A

median: mode

25
Q

True or False: The range of a given continuous random variable is the lowest and highest values possible fro that variable

A

True

26
Q

A Standard Normal Distribution is one for which the probabilities of any given value occurring are the same above and below the mean. Another way of saying this that the shape of the curve to the right of the mean is the _______ as the shape of the curve to the ______ of the mean

A

same; left

27
Q

Measures of central tendency yield information about what portion of a data set

A

middle values

28
Q

The three most common measures of central tendency are the mean, mode, and the ______

A

median

29
Q

True or False: The arithmetic mean is the average of a group of numbers

A

True

30
Q

Which of the following measures of central tendency is the middle number in a data set when the values are arranged hierarchically?

A

Median

31
Q

Which of the following measures of central tendency describes a value that appears in the distribution more than once?

A

Mode

32
Q

Sometimes there are no repeated values in a distribution in which cases the distribution would not have a mode. However, some distributions have two modes suggesting two concentrations of value in the data set. A distribution with two modes is called

A

Bi-modal

33
Q

What is the term used to describe portions of a distribution when dividing the distribution into 100 parts

A

Percentile

34
Q

What is the term used to describe portions of a distribution when dividing the distribution into four parts

A

Quartile

35
Q

True or False: When assessing the range of data in a distribution the researcher is measuring the dispersion of values

A

True

36
Q

The interquartile range is a subset of the goal range of a distribution and describes values in the middles 50% of the total range. Consequently it is the range between the first quartile and the third quartile. It would also be correct to identify the IQR and the range from the ______ percentile and the _______ percentile

A

25th and 75th

37
Q

A table that illustrates the number of times four different web brewers are used in a week and gives the total number of all web browsers accessed is called a __________

A

Frequency Table

38
Q

If we convert a table showing the number of times each web browser is used in a week to a percentage each browser represents of the goal number of uses, we would call this a _____________

A

Relative Percent Frequency Table

39
Q

True or False: If we uses the percentages each web browser represents of the total number of web browser access we could create a pie chart that would illustrate how big a piece of the pie is represented by each browser

A

True

40
Q

True or False: A bar chart or bar graph is a useful illustration of the relative differences among different categories beige measured

A

True

41
Q

True or False: Gathering customer opinions is useful for statistical analysis

A

True

42
Q

True or False: A segmented bar chart can be useful for illustrating the results of surveys that convert opinions from nominal to ordinal values on scales of 1 through 7 or 1 through 5

A

True

43
Q

True or False: Suppose we have a data set which contains the ages of all 22,000 Georgia Southern University undergraduates. The number 22,000would be represented by the letter n since the data set would be an example of a population

A

False

44
Q

Which of the following is an illustration of raw (ungrouped) data

A

A table listing the mean MPG measured by the EPA for 50 different 2013 car models

45
Q

Can a stem and leaf plot be used to approximate the curve of a distribution

A

Yes

46
Q

True or False: An ogive is a frequency polygon showing cumulative frequency

A

True

47
Q

If the probability of rain in today’s weather forecast is 0.50, what is the probability of no rain

A

0.50

48
Q

An experiment is a process that generates well-defined outcomes. Which of the following is an example of an experiment

A

A. Toss of a coin
B. Toss of two coins
C. Roll of two dice
D. All of the Above

49
Q 
The outcome of tossing two coins in sequence could be which of the following
A. Head, tail
B. Head, head
C. Tail, tail
D. all of the above
A

All of the above

50
Q

One flip of a coin would be an example of

A

Experimental Trial

51
Q

The classical method of assigning probability value is to perform one or more experiments and measure the outcomes of experiments which are called ______

A

events

52
Q

Why is the subjective method of assigning probabilities less desirable than the other two methods
A. it depends on the degree of belief
B. It is influenced by the bias of the assigner of probability
C. It can vary under different circumstance
D. All of the above

A

All of the above

53
Q

The sum of all probabilities for a particular experiment must be

A

1

54
Q

When applying the classical method of probability to the roll of a fair die, if 6 outcomes are equally possible the probability of any one of the six outcomes is

A

16.7% or 1/6

55
Q

If a company employs 200 workers and 70 of them are male what is the probability when you meet someone who works at that company that they will be female

A

200-70/200=0.65

56
Q

True or False: In a two-step experiment, such as tossing of two coins in sequence, each step can have two possible outcomes: head or tail. Therefore there are 2 X 2 , or 4 possible outcomes from an experiment seeking to learn about the outcome of tossing two coins

A

True

Business Stats (6 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions